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March 2014

Skandia, part of Old Mutual Wealth and one of the largest pension drawdown providers in the UK, has today launched new system functionality to enable customers and financial advisers to take advantage of the new flexible pension regime with immediate effect.

In today’s budget statement, the chancellor gave the UK public greater flexibility in how they save for their retirement. According to investment business Skandia, the changes reflect the changing nature of retirement in the UK with people increasingly looking to phase in to retirement over a longer period, rather than it being a ‘cliff edge’ decision.

Ahead of this Wednesday’s Budget announcement, Skandia, part of Old Mutual Wealth, is repeating its call for the Chancellor to improve access to workplace financial advice, along with four other key changes for a clearer market.

Skandia International, part of Old Mutual Wealth, is the first provider to structure an Investec Autocall as an internal fund, enabling it to be held within an offshore bond in the UK. This innovative new fund launches today, and will help meet the growing demand for structured capital at risk products to be available through an offshore bond wrapper in the UK.

Peter Mann, vice-chairman of Old Mutual Wealth, today announces his intention to retire from the Group and pursue new challenges outside of the company. Peter has been with Old Mutual Wealth, comprising Skandia and Old Mutual Global Investors, for 12 years, arriving in 2001 when the Group acquired Bankhall where Peter was CEO. Peter has since held a number of positions in the business including CEO Skandia UK and vice-chairman Old Mutual Wealth.

89% of financial advisers in the UK agree trusts can offer advantages over a will, according to a new survey* conducted by Skandia International, part of Old Mutual Wealth. The survey also revealed that only around 22% of UK advisers’ clients hold a trust, compared to 60% that hold a will, showing clear potential for more people to benefit from holding a trust.